AMP is a digital collateral token that ensures safety and security in crypto transactions. It works with the help of on-chain collateral managers. It is also referred to as smart contracts.
AMP is an open-source platform so that users can integrate the tokens automatically with each purchase. The smart contracts freeze or release collateral for purchases made with cryptocurrencies.
It was listed on the crypto exchange in 2020, and it was valued at $0.00953. The price spiked higher when it was listed on Coinbase in 2021. This year, the price has been dropping tremendously; it has shown support at the lower level in recent times.
Many people think it is risky because cryptocurrency is very volatile due to different views on their values. But the best part is that it can potentially disrupt the financial world and impact the ecosystem of crypto-asset significantly.
Many analysts think it has a great future because it solves a problem that all other crypto industries overlooked. It focuses on the collateralization of crypto assets, which adds value to the crypto industry. In the future, if crypto becomes one of the mainstream real-world currencies, then AMP will become a big asset.
At the time of writing, AMP was trading around $0.028. In recent times cryptocurrencies have received a huge inflow from various parts of the world, so the price may go higher in the short term. Moreover, it is trading around the resistance level of $0.032. Will it cross the level?
The MACD line is trading above the Support Line on the daily chart. RSI is at 59, indicating bullishness, and candlesticks are forming just below the upper band of the Bollinger Bands, which suggests positive momentum in the market.
Overall, the coin is bullish in the short term. Read AMP price prediction to find out what values it can reach within the next few years.
The coin does not look bullish in the long term. If you look at the weekly chart closely, you will see lower lows, which is not a good sign. It has broken the $0.034 level in the second week of January, and after that, it is in a downtrend.
As per the long-term analysis, we cannot suggest investing and holding for the long term until it crosses the $0.05 level decisively. It is not a good time for investing as the long-term prediction is bearish.
Aggressive traders can invest in the short term with minimum capital. Others can research the other cryptocurrencies in the market that will provide them with good profit in the long term.